> For the complete documentation index, see [llms.txt](https://eako-capital.gitbook.io/eako-user-guide/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://eako-capital.gitbook.io/eako-user-guide/fade-forward.md).

# Fade Forward

{% hint style="info" %}
A Fade Forward is an accrual-based forward, whereby an amount of the notional (a unit) is accrued on each day that the fixing is above / below a pre-specified Fade Rate.\
\
There is an additional boost factor on this product whereby two units are accrued on an OTM fixing so as to further improve the strike rate.
{% endhint %}

### **Payoff Diagram:**

<figure><img src="/files/V7Hf0LJKOCoMnWJAsrcF" alt="Fade Forward Payoff Profile"><figcaption></figcaption></figure>

### **Payoff at Expiry:**

Every day EURUSD fixes:

* Between the Fade Rate and the Strike Rate, a unit is accrued at the Strike Rate.
* Below the Strike Rate, 2 units are accrued at the Strike Rate.
* Above the Fade Rate, an amount is accrued.


---

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